PSE&G Plans Six Year $4 Billion Investment On Clean Energy

The biggest challenge that we all face today as a global community, apart from our social, political and economic differences, is the damage that we have done to our planet as a result of our behavior.

The scientific evidence on this matter is very strong and concrete. Scientists have suggested that global warming, pollution, and depletion in our ozone layer etc. are things that can soon become a serious threat to our existence if no action is taken now. Governments, business, and various organizations are taking steps to control the damage that has been done.

New Exciting Program For New Jersey

The Public Service Electric and Gas Company (PSEG) has recently unveiled an exciting plan that aims to reduce the consumption of energy in a bid to reduce the damage that is being done to the environment. The plan is a massive four billion dollar program which is expected to be implemented through a period of six years. The goal of this clean energy project is to help New Jersey meet its ambitious environmental goals while also benefiting the customers as a result of reduced bills.

The Main Idea

The central premise of this Clean Energy Future (CEF) project is to make sure that people move towards a more energy efficient lifestyle which means that the total energy consumption comes down as a whole and that the cost of energy comes down as well. It is observed that the focus of this plan is to make significant investments in electric vehicle infrastructure, energy storage, and smart meters however it is noticed that the major portion of the investment is to go into energy efficiency measures.

Energy Efficiency And Infrastructure For Electric Vehicles

Developing more technology to provide efficient energy

About 2.8 billion dollars is expected to be invested in energy efficiency which includes customer incentives and rebates. The amount will be used to convince and incentivize people to buy electrical appliances that consume lesser electricity and empower them with other energy efficiency tools. It is estimated that these measures will contribute to the overall savings of the customers and the figure is stated to be around six billion dollars.

Another key aspect of the program is the investment in the electric vehicle infrastructure which is expected to have a tremendous impact on the reduction of greenhouse emissions. As of now, according to sources, fifty-two percent of greenhouse emissions in New Jersey come from the motor vehicles. The idea is to encourage the general public to opt for electric vehicles instead of conventional ones for the betterment of the environment. The plan is to introduce a better and vast electric vehicle infrastructure which had not existed before. The amount to be invested in this area, according to the energy efficiency plan, is three-hundred and sixty-four million dollars.

Conclusion

All these steps are being taken in the light of the recent legislation that has been done which raises New Jersey’s renewable portfolio standard (RPS) to fifty-percent by the year 2030. The PSEG is confident that the targets and goals that have been set in the CEF are well devised to help New Jersey in accomplishing their target.

Global warming is destroying our world every second and that is why it is important to take the right steps at the right time.